Business Institutions

President Obama announced a new round of U.S. sanctions on Russia's banking, arms and energy sectors, the latest step intended to punish Moscow for backing separatist militias in eastern Ukraine. "Today is a reminder that the United States means what it says," Obama told reporters at the White House. "It didn't have to come to this, it didn't have to be this way, " Obama said, adding that Russian president Vladimir Putin had rejected efforts to resolve the situation, instead continuing efforts to turn Ukraine into a "vassal state." The standoff over Ukraine is "not a new Cold War," Obama said, but "no country should have...

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President Obama announced a new round of U.S. sanctions on Russia's banking, arms and energy sectors, the latest step intended to punish Moscow for backing separatist militias in eastern Ukraine.
"Today is a reminder that the United States...

Rescuing California's oldest Latino bank, 16 larger community and regional banks have chipped in $6.3 million to help keep 50-year-old Pan American Bank in East Los Angeles open.
The deal is expected to bring change to the board of directors and...

With Citigroup Inc. agreeing to pay $7 billion for issuing toxic mortgage securities, the Justice Department now turns to settling its case against what analysts call the biggest mortgage miscreant of all: Bank of America Corp.
The government has...

In a makeshift office — a living room crowded with desks, monitors and a beanbag chair — a handful of programmers are hacking away on computers, aiming to make their mark on the multibillion-dollar financial services industry.
This condo on the 19th...

Swiss banking giant Credit Suisse pleaded guilty to a criminal charge that it helped wealthy Americans dodge income taxes for decades, a plea federal officials said bolstered their efforts to show that no financial firm was too big to prosecute.
The bank...

In her recently published memoir, Sen. Elizabeth Warren (D-Mass.) relays a chilling anecdote about how Washington really works. In 2009, she was running a congressional panel to oversee the Treasury Department's bailout of the financial industry, and...

WASHINGTON -- Stanley Fischer, the former Bank of Israel president nominated for the Federal Reserve's No. 2 job, defended his work on Wall Street and told senators at his confirmation hearing Thursday that he understood the effect of economic problems on...

WASHINGTON — A Senate subcommittee investigation accused Swiss banking giant Credit Suisse of using elaborate "cloak and dagger" methods to hide the accounts of 22,000 wealthy American citizens with a total of up to $12 billion in assets from...

WASHINGTON — A Senate subcommittee investigation accused Swiss banking giant Credit Suisse of using elaborate “cloak-and-dagger” methods to hide the accounts of 22,000 wealthy American citizens with a total of up to $12 billion in assets from U.S....

A top European Union regulator raised concerns Wednesday that new Federal Reserve rules for foreign banks operating in the U.S. could place an unfair burden on EU financial firms.
The Fed's Board of Governors now requires Barclays, Deutsche Bank and...

A top European Union regulator raised concerns Wednesday about new Federal Reserve rules for foreign banks operating in the U.S., complaining the requirements were adopted unilaterally and could place an unfair burden on EU financial firms.
"We will...

WASHINGTON — The Obama administration, taking the first regulatory step to accommodate the country's growing state-approved marijuana businesses, issued guidelines Friday designed to bring dispensaries into the banking system and end their risky...

WASHINGTON — Atty. Gen. Eric H. Holder Jr., warning that no bank is "too big to indict," said the Justice Department will be bringing more cases involving "significant financial institutions" as it continues to investigate Wall...

WASHINGTON -- Atty. Gen. Eric H. Holder Jr. said Friday that no bank is "too big to indict" and that the Justice Department has more cases coming involving "significant financial institutions" as it continues to investigate Wall Street...

Housing has stood out as the sick man of the U.S. economy in bad times and better times. For all its work on economic stimulus in various forms, the Obama administration has never been able to get its hands around a solution for the housing crash....

NEW YORK — Bank of America has been found liable for fraud in the sale of faulty loans by its Countrywide mortgage unit, a major victory for the federal government as it continues to pursue cases stemming from the financial crisis.
A federal jury in...

NEW YORK — Corporate America has increasingly found itself under siege by hackers backed by organized criminals and foreign governments alike.
A group called the Syrian Electronic Army claimed responsibility for knocking the New York Times' website...

Michael Barr served as the U.S. Treasury Department's assistant secretary for financial institutions in 2009 and 2010. He oversaw the Obama administration's dealings with Congress in creating the Consumer Financial Protection Bureau.
And he's still...

WASHINGTON — Sen. Elizabeth Warren has launched a campaign to make banks boring again as she pushes legislation to enact stricter regulations forcing deposit-taking financial institutions out of the investment business.
The Massachusetts Democrat wants...